Contingency

Business, Legal & Accounting Glossary

Definition: Contingency




What is the dictionary definition of Contingency?

Dictionary Definition


A provision in a contract stating that some or all of the terms of the contract will be altered or voided by the occurrence of a specific event. For example, a contingency in a contract for the purchase of a house might state that if the buyer does not approve the inspection report of the physical condition of the property, the buyer does not have to complete the purchase.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/contingency/
Modern Language Association (MLA):
Contingency. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 24, 2021 https://payrollheaven.com/define/contingency/.
Chicago Manual of Style (CMS):
Contingency. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/contingency/ (accessed: September 24, 2021).
American Psychological Association (APA):
Contingency. PayrollHeaven.com. Retrieved September 24, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/contingency/

Definition Sources


Definitions for Contingency are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 1 Views.